84 | BUILDING Kenepuru Homes Kelly Deeks Opening the lines of communication Kenepuru Homes is a bulk residential building company which partners with Government, iwi, and developer clients to create innovative property development solutions that work well for all parties. The fastest growing residential construction company in the Wellington region, Kenepuru Homes, has been agile since it started in 2016, allowing it to adapt quickly to the changing needs of the market and maximise the potential in the opportunities it presents. Established by quantity surveyor Jarrad Tilyard, Kenepuru Homes reached place eight on the 2022 Deloitte Fast 50 with revenue growth of 436%. Kenepuru Homes is a bulk residential building company which partners with Government, iwi, and developer clients to create innovative property development solutions that work well for all parties. Jarrad has positioned Kenepuru Homes to continue to respond to shifts in the market. “I know we are going to have a few tough years ahead, but with the way we are doing things, we’ve got a really good chance to continue to grow in these tough times,” he says “We’ve done some great things, and we can do even more.” For the past 12 months, Kenepuru Homes has had 30 to 40 homes on the go, but Jarrad says the bottom has now dropped out of the market. “There has been such a backlog of work, but now everything has stopped. The contractors are sniffing around for work and the private planning is not happening. I think by the third quarter of this year, things are going to be drying up.” Jarrad has already been working on his strategy for this emerging market, developing relationships with larger clients so that instead of working for 30 to 40 clients, Kenepuru Homes will focus on having three or four larger clients for the coming few years. “During this period of time, we will be refining our systems and processes. We’ve already got a tight team, but we’ll be making them really efficient and effective, doing the Wellington region fantastically well, and then we’ll make some plans for getting into other regions.” Section sales have changed in the post-Covid business environment, where purchasers used to scrap over land, today developers are having a hard time trying to move it. Jarrad is focused on solutions - how to move the land, how to get a development off the ground. “That’s what I’m looking forward to doing for the next two to three years.” He says no one needs to expect blood and carnage from the current recession. “Property prices in Wellington have reduced 10% to 20%, but mortgagee sales are still a rarity, and we have the banks, the Government, and high loan to value ratios to thank for that. It’s not carnage. People might be eating mince instead of steak right now, but the prices will go up again. Developers are still going to develop, it’s just that the terms change.” In the high-end market, which is only a small proportion, buyers still have the money to do as they please. Meanwhile in the first home buyers market, property prices have never been better but now inflation and interest rates are prohibitive. “They can now afford a home but they can’t finance it. It’s kind of sad actually. But this is where we come back to working with developers on solutions. There are always ways to do things, and it’s that type of innovative thinking that has got us to where we are today.” Partnerships are critical in the development space. A developer with a good relationship with a builder has a higher chance of moving their land, and a builder with a good relationship with a developer has a higher chance of making some sales. “That is how we see it. That is how we want to do business, and it works so much better for everybody.” Providing the Ultimate Kitchen Experience Proudly supporting Kenepuru Homes Phone 04 298 2421 office@kitchencreators.co.nz 144 Kapiti Road, Paraparaumu www.kitchencreators.co.nz - Design - Manufacture - Installation Kitchen: We Lift You Up iScaff provides scaffolding solutions for any residential, light commercial and civil projects in Wellington, the Hutt Valley and the Kapiti Coast. Fixed steel scaffolding Roof edge protection Heavy duty gantries, ramps and drilling platforms Temporary roofs Hanging, cantilevered and birdcage scaffolds Scaffold with screening and shrink wrap 9 Makaro Street, Elsdon, Porirua 5022 | 027 749 0248 | info@iscaff.co.nz | www.iscaff.co.nz 1/55 Kenepuru Dr Porirua p: 0508 DR ROOF - 0508 377663 e: w: NEW & RE -ROOF ING SPECIAL I STS
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